An important point in FLW history occurred July 24, 1996, when Minneapolis businessman Irwin L. Jacobs purchased the company.

The Pro Circuit featured a field of 150 anglers competing for a top prize of $125,000 at each tournament and points to qualify for the end of the season championship, the FLW Title.

The top 40 anglers will qualify for the Major League Fishing Bass Pro Tour while the bottom 40 will be demoted to the FLW Series.

The FLW Tour was created by businessman Irwin L. Jacobs, owner of Genmar, the world's largest manufacturer of recreational boats (including Ranger, Wood's former company).

Jacobs' plan was to turn the tour into the object of major media coverage, with larger cash prizes, a television-friendly competition format, and sponsorships from well-known corporations from outside the fishing industry.

Jacobs promptly signed the biggest company of them all — Walmart — which became the title sponsor for the FLW Tour, which was the first such sponsorship in the giant retailer's history.

[3] That same day, Jacobs also announced that legendary oilman and investor T. Boone Pickens had taken an equity stake and a partnership in the company.

The Series offered regional anglers a chance to compete close to home for a shot at qualifying for a no-entry fee championship.

The Bass Fishing League (BFL) is for the weekend angler, featuring one-day tournaments in 24 divisions across the country that provide advanced competition and lucrative payouts.